Apple shares dip below $600 mark, climb

Apple (AAPL) shares traded below $600 in afternoon trading Friday before later climbing above that benchmark, a day after the company reported that its fourth-quarter earnings missed expectations. Investors seem worried about the rising costs of production for its devices and that the company has missed profit estimates for the second straight quarter.

It's the first time the world's most valuable company has seen its shares fall below $600 in three months.

Apple shares have dropped more than $100 from their record high of $705.07, hit on Sept. 21, the day the iPhone5 went on sale in the U.S. and eight other countries.

That's a total loss to investors of $106 billion, although Apple's total market capitalization of $556 billion means it's still the largest company on earth, by a wide margin.

Read Full Article from USA TODAY

- Posted: 2012-10-26 14:53:08

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